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Creation of Company

The document provides steps to create a company in Tally ERP 9. [1] Users navigate to Company Info and select Create Company. [2] They enter basic company details like name, address, contact info, financial year, books period, base currency, and set a security password. [3] Upon completing all required fields and selecting Yes, the new company is created and ready for use in Tally ERP 9.

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nikita bajpai
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876 views6 pages

Creation of Company

The document provides steps to create a company in Tally ERP 9. [1] Users navigate to Company Info and select Create Company. [2] They enter basic company details like name, address, contact info, financial year, books period, base currency, and set a security password. [3] Upon completing all required fields and selecting Yes, the new company is created and ready for use in Tally ERP 9.

Uploaded by

nikita bajpai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CREATION OF COMPANY

2.1 Creation of company


The first step to get started in Tally ERP 9 is to create a company. The creation of company in
Tally involves basic information about company, books and currency details.

Steps of creating company:


Step1: after login to tally, go to

GATEWAY OF TALLY > (Alt + F3) >Company info > Create Company
Step2: the company creation screen displays on the screen.

Company creation screen

Step3: on a company creation screen, there are particular details that need to filled. To navigate
between the different details, use the Enter/Tab/Arrow Keys, or Mouse clicks.

The following details are explained below:

1. Directory: directory is nothing but the data storage location. The tally directory will store
all data you entered in Tally ERP 9. Anyway, by default, the data storage will be inside
the installation folder. However, you can alter the location where you want the data to be
stored.
2. Name: update the name of the company here which is being created.

PRIMARY MAILING DETAILS

1. Mailing Name: the mailing name of the company will automatically update as per the
given name of the company, however mailing name can be change as per the
requirement.
2. Address: In this data field, we are required to enter the address of the company.
3. Country: Select the country in which the company is operates. This will allow users to
choose the statutory capabilities available for that country. In this example, the country
selected is India.

4. States: choose the state from the given list of states, in which the company is located.
5. Pincode : update the pincode of the state where the company is located.

Contact details:

1. Fill in the relevant numbers in the:


 Telephone No. and,
 Mobile No.
2. fill the company’s
 email id
 fax number and
 official website address of the company.

Books and financial year detail:

1. Financial Year from: This refers to the twelve-month accounting period of the
company.  This specific period is called as financial year i.e the financial year will be
from 1stApril2020 to March ending with march 31, 2021.

2. Books beginning from:

If your company incorporated in the middle of the year, (or) If your company is
new, you can opt to start the books of accounts from the date of actual
establishment of the company (date of incorporation) but close books according to
the financial year as specified by you.
For example: if your company is established on May 01 2020, the opening
balances for all the accounts can be given as on May 01 2020 even though the
financial year given as April 01 2020 (April to March financial year). The
company’s books will begin on May 01, 2020 and close on March 31, 2021

Security Control:

1. Tally Vault Password (if any): Once you enter a password here, you will
need it to open your company each time. The name of a company that is
locked using Tally Vault will be hidden with the star ‘*’ symbol. You need
to provide the Tally Vault password to open and access the company.
Repeat Password: Here, enter the password entered in the Tally Vault, to
confirmation the password to avoid any mistake.

2. Use security control


 Enabling the user security control, we will get complete control over the
data. It will secure your data in company.
 Once the password is set you will need to open the company each time by
putting the password.
Base Currency Information:

1. Base Currency Symbol: In this data field, the currency symbol of the
country is selected based on the country you selected or in which you are
operating.

2. Formal Name: In this, the formal name of the currency is filled. E.g-
INR(Indian rupees).

3. Suffix Symbol to Amount: For some countries, the currency symbol is


specified after the amount. This option can be enabled for such countries,
so that the currency symbol may be printed after the amount.

4. Add space between amount and symbol: This data field is like $
4,500 space in between currency symbol and amount.

5. Show amount in millions: If we set this data field to Yes, Tally will
display the amount in millions that are in the Balance sheet or other
reports. Amount for example 100,00,000 will be shown as 10. [One
million equals 10,00,000].

Step 4: Company Created


Nikita Pvt. Ltd.

At the end when the company is created, the message of ACCEPT? is displayed
with option YES OR NO.

Select: Y for YES or N for NO.

Select Y for YES , and your company is created.

Alter:
After creation of company in tally, the given company information can be alter or
change as per our requirement.

Steps1 :gateway of tally alt+F3 alter

Step 2: after selecting alter, select a company which you want to alter, and then
alter the information in the company which you want to change.

DELETE:

If you delete a company in tally, it removes the complete information of company


in tally permanently.
Step: gateway of tally alt+F3 alter alt+D

(Alt+F3 = company info)

SHUT COMPANY:

Shut company does not mean delete company, it means closing the current
company you are working.

Step: Go to Gateway of tally, then press alt+F1 or double click on shut


company if you choose more than one company or choose Quit button to close
the present company.

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